Morehead, Kentucky Lender Lends Money to Gasoline Stations With Convenience Stores Company

A Morehead, Kentucky business loan can be yours. Learn how a business got a $297,000 business loan from this Kentucky bank.

This loan to a local firm is a good example of an SBA loan. The Citizens Bank made the loan and the SBA guaranteed a portion of the loan. Many other Kentucky entrepreneurs have gotten similar loans. If you need money for a business, this may be the best route to take.

SBA Loan Borrower

COMPANY TYPE: GASOLINE STATIONS WITH CONVENIENCE STORES
OLIVE HILL, KY 41164

SBA Loan Lender

THE CITIZENS BANK
114 W MAIN ST
MOREHEAD, KY 40351

The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide debt financing to to entrepreneurs who might have trouble getting a conventional bank loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

447110 - Gasoline Stations with Convenience Stores

Loan Approval Date

3/27/2007

Loan Approval Gross Amount

$297,000

Loan Approval from the SBA

Of the total $297,000 loan amount, the SBA guaranteed $222,750.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 3 employees. The loan application indicated that the loan would help create 3 new jobs.

Next Steps for Getting an SBA Loan

If you are working on finding money to start a business in Olive Hill KY, you ought to talk with a local Olive Hill SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Olive Hill businesses.

This SBA loan was for $297,000. How would you spend $297,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

About This SBA Loan Information:

All SBA loan data displayed above comes from the government's publicly available SBA loan database. Information on this page is provided by the Gaebler.com news organization to inform business owners, aspiring entrepreneurs and others about SBA loan activity. LoanCensus.com does not assist businesses with obtaining SBA loans and was not involved in any way with this transaction. For additional information, see our Loan Information FAQ.

Related Links:

Equity Financing

SBA 7A Banks for Morehead, Kentucky Loans

SBA Participating Banks in Kentucky